Livestock Vaccines Market ‚ Segmented by Product (Bovine Vaccines, Poultry Vaccines, Porcine Vaccines), Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines), Geography- Growth, Trends, and Forecast (2019 - 2024)

Livestock Vaccines Market ‚ Segmented by Product (Bovine Vaccines, Poultry Vaccines, Porcine Vaccines), Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines), Geography- Growth, Trends, and Forecast (2019 - 2024)

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Livestock Vaccines Market Overview

The Livestock vaccines market is expected to witness a CAGR of 6% over the forecast period. Livestock Vaccines refer to the veterinary vaccines, which are used primarily for livestock, as they suffer from various diseases, such as bluetongue virus, foot-and-mouth disease (FMD), rabies, and many others. Increasing incidence of livestock diseases, increasing incidence of zoonotic diseases, initiatives by government agencies, animal associations, and leading players are contributing to the market growth. However, high storage costs for vaccines, and shortage of veterinarians and skilled farm workers can adversely affect the market growth.

Increasing Incidence of Livestock Diseases to Propel Growth of the Livestock Vaccines Market

Increasing incidence of livestock diseases is expected to propel the market growth. Anthrax is one of the most common livestock diseases in the world. According to a report published by WHO (World Health Organization), although national programs have resulted in the containment of anthrax globally, it is still prevalent, due to the lack of experience of the most recent generations of veterinarians to identify and report the disease, along with the discontinuation of vaccination against the disease. From January to April 2015, disease reports from countries in North and West Africa, the Middle East, and East, South, and Southeast Asia mainly included foot-and-mouth disease (FMD) and H5N1 highly pathogenic avian influenza (HPAI) outbreaks, two major transboundary animal diseases of economic concern, globally. This period was also characterized by continued global spread of various avian influenza (AI) subtypes, regional spread of H5N1 HPAI in West Africa, and continued regional spread of lumpy skin disease (LSD) in the Middle East. Continuation of the ongoing regional epidemics of Ebola in West Africa and the Middle East respiratory syndrome coronavirus (MERS-CoV) in the Middle East was observed.

In addition to the aforementioned factor, the increasing incidence of zoonotic diseases, initiatives by government agencies, animal associations, and leading players are expected to fuel growth of the Livestock Vaccines market, over the forecast period.   

High Storage Costs for Vaccines are Restraining the Growth of Livestock Vaccines Market

Costs associated with vaccinations have gone up, as numerous indirect costs are associated with the production of vaccines, which include personnel costs for ordering, inventory, insurance against the loss of the vaccines, recovery of costs due to inventory shrinkage, wastage, non-payment, and lost opportunity costs. Apart from these factors, high storage cost is acting as major restraint, by further limiting growth of the veterinary vaccine market. Vaccines can lose their effectiveness, if they become too hot or too cold at any time. During transportation, they can naturally biodegrade with time, and storage outside of the recommended temperature range can speed up their loss of potency, which cannot be reversed. Thus, it can result in the failure of the concerned vaccines,  nullifying the desired immune response, consequently, providing poor protection to the patient. According to the National Institute of Standards and Technology (NIST), over 35% of vaccines lost their potencies during their shipping, across the world, as they were stored at temperatures, which was either too high, or too low.

Thus, handling cost of vaccines has increased because of CDC guidelines, which is acting as a major barrier for the market growth. Additionally, vaccines that are wasted due to the equipment failures at clinics significantly add to monetary and public health costs.

North America to Dominate the Livestock Vaccines Market

The United States is expected to dominate the livestock vaccines market, owing to the factors, such as awareness about the prevention of animal-to-human transmission diseases, safe animal food supply, and lower investment in research and development in animal vaccines, as compared to human vaccines. Veterinary vaccines in the United States are regulated by the Center for Veterinary Biologics (CVB) in the Animal and Plant Health Inspection Service (APHIS). The CVB grants establishment and product license to animal health companies, in order to manufacture and sell veterinary biologics. FDA has no role in regulating vaccines for animal diseases. Vaccination, in companion and wildlife animals for zoonotic diseases, had a great impact on reducing the incidence of zoonotic diseases in people. The aforementioned factors are driving the growth of the Livestock Vaccines in North America.

Key Developments in the Livestock Vaccines Market

  • Mar 2018: Zoetis introduced Fostera Gold PCV MH, which is US pork industry’s first vaccine to include two genotypes of porcine circovirus type 2 (PCV2) — 2a and 2b.

Major Players: Zoetis Animal Healthcare, Merck & Co., Virbac SA, Eli Lilly and Company, Boehringer Ingelheim Animal Health GmbH, Texas Vet Lab, MSD Animal Health, among others.

Livestock Vaccines Market Report Summary

Metrics

Details

Industry

Livestock Vaccines  Market

Forecast Period

2018 – 2023

CAGR

6%

Largest Market Share by Region

North America

Key Developments

Mar 2018: Zoetis introduced Fostera Gold PCV MH, which is US pork industry’s first vaccine to include two genotypes of porcine circovirus type 2 (PCV2) — 2a and 2b.

Companies Covered

Zoetis Animal Healthcare, Merck & Co., Virbac SA, Eli Lilly and Company, Boehringer Ingelheim Animal Health GmbH, Texas Vet Lab, MSD Animal Health, among others.

Report Offerings

Livestock Vaccines Market report offers latest trends,   growth prospects, industry competitiveness,   major players, value/supply chain, regional market share, and forecast to 2023.

Reasons to Purchase Livestock Vaccines Market Report

  • Analyzing various perspectives of the global Livestock Vaccines market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Livestock Vaccines Market Report

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TABLE OF CONTENTS

1. Introduction

                1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

                5.1 Current Market Scenario

                5.2 Porter's Five Forces Analysis

                                5.2.1 Bargaining Power of Suppliers

                                5.2.2 Bargaining Power of Consumers

                                5.2.3 Threat of New Entrants

                                5.2.4 Threat of Substitute Product and Services

                                5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)

                6.1 Market Drivers

                                6.1.1 Increasing Incidence of Livestock Diseases

                                6.1.2 Increasing Incidence of Zoonotic Diseases

                                6.1.3 Initiatives by Government Agencies, Animal Associations, and Leading Players

                6.2 Market Restraints

                                6.2.1 High Storage Costs for Vaccines

                                6.2.2 Shortage of Veterinarians and Skilled Farm Workers

                6.3 Opportunities

                6.4 Key Challenges

7. Market Segmentation

                7.1 By Product

                                7.1.1 Bovine Vaccines

                                7.1.2 Poultry Vaccines

                                7.1.3 Porcine Vaccines

                                7.1.4 Other Livestock Vaccines

                7.2 By Technology

                                7.2.1 Live Attenuated Vaccines

                                7.2.2 Inactivated Vaccines

                                7.2.3 Toxoid Vaccines

                                7.2.4 Recombinant Vaccines

                                7.2.5  Other Technologies

                7.3 By Geography

                                7.3.1 North America

                                                7.3.1.1 United States

                                                7.3.1.2 Canada

                                                7.3.1.3 Mexico

                                7.3.2 Europe

                                                7.3.2.1 France

                                                7.3.2.2 Germany

                                                7.3.2.3 United Kingdom

                                                7.3.2.4 Italy

                                                7.3.2.5 Spain

                                                7.3.2.6 Rest Of Europe

                                7.3.3 Asia-Pacific

                                                7.3.3.1 China

                                                7.3.3.2 Japan

                                                7.3.3.3 India

                                                7.3.3.4 Australia & New Zealand

                                                7.3.3.5 South Korea

                                                7.3.3.6 Rest of Asia-Pacific

                                7.3.4 Middle East & Africa

                                                7.3.4.1 GCC

                                                7.3.4.2 South Africa

                                                7.3.4.3 Rest of the Middle East & Africa

                                7.3.5 South America

                                                7.3.5.1 Brazil

                                                7.3.5.2 Argentina

                                                7.3.5.3 Rest of South America

8. Company Profiles and Competitive Landscape

                8.1 Zoetis Animal Healthcare

                8.2 Merck & Co.

                8.3 Virbac SA

                8.4 Eli Lilly & Company

                8.5 Boehringer Ingelheim Animal Health GmbH

                8.6  Texas Vet Lab

                8.7 MSD Animal Health

                *List Not Exhaustive

9. Future Outlook of the Market

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